Marketing real estate well is crucial to your sale—but it doesn’t have
to break your budget. Real estate marketing is simply
advertising: letting your potential buyers know what you have to offer,
and that you have something to offer at all. This article will
outline the most basic and cost effective means of marketing your home
for a quick and easy sale.
Remember, never under-market you property in order to save money.
Maximizing your pool of potential buyers is the key to turning your
property over quickly. Time is money in real estate; expect to
set aside between $100 and $1,000 for marketing alone. If your
marketing is effective enough to get your property off of the market
even one week ahead of schedule you are saving money.
The first thing that comes to mind may be your local MLS, multiple
listing service. If you are a real estate agent or broker, this
will be your first means of marketing. If you choose to sell your
house without a real estate agent, you may choose to pay a fee for the
use of this system or go without it. This is your choice.
At the moment you decide that your property is going on the market, put
a sign in the yard. Signs are cheap and simple. Put the
basic information on your sign; number of bedrooms, bathrooms and some
salient features about the property. These signs will get the
attention of people in the neighborhood and casual passers-by.
It is important that before placing a sign in the front of your
property that you check with your local homeowner’s association.
Some sub-divisions, gated communities and various other neighborhoods
have rules regarding the size and type of sign that can be displayed.
The second step in marketing your property is even simpler and cheaper
than the first: fliers. Make a few hundred attractive 8x10 fliers
to keep on display in the front of your property. If you are
working on the property, leave the fliers with the contractor to give
to curious parties. These fliers should be more informative than
the sign, but not too detailed. Leave most of the details to be
discussed in person.
When the time is right, you will show the house. Believe it or
not, repairs need not be one hundred percent complete at the time of
the showing. As long as your potential buyers can see the quality
of the work being done and are persuaded by you, there should be no
problem. One week before your first showing (usually on a Sunday)
place an ad in the weekend real estate section of several local
newspapers. Remember, these ads can cost hundreds of dollars so
only use them for one week!
Your newspaper ads should be succinct and informative. As
newspapers charge by the word or line you should be to the point but
not too frugal. Remember, never under-sell! Include the
basic information: bedrooms, bathrooms, etc. and one special feature of
your property (pool, guest room, picture window, etc.). Too much
information is more expensive and may lead people to make up their
minds against your property before having a chance to see it.
Placing newspaper ads and doing showings before the renovations or work
is complete can save you money. Show the house when you estimate
that you are three weeks to one month away from completion. This
will allow you a window in which to complete your transactions and get
your property off of the market within your budget. Letting your
property sit empty on the market is costing you money.
While it seems obvious, it may come as a surprise how many phone calls
you receive in the first week of your ad. Invest in a voicemail
box that you reserve especially for your property dealings. If
you have listed your property in different papers, or under different
categories, you may want to attach different numbers to each ad.
Knowing which ads got the most attention may help you with your future
real estate sales.
Finally, the oldest marketing scheme in the book, Word of Mouth.
Many people find that they spread their feelers all over the state only
to sell their property to one of their neighbors! People like to
buy property in their own neighborhoods. If some of your
neighbors are looking to move into a bigger house or want to invest in
property, talk to them! Speaking with your friends and neighbors
may be your best marketing strategy yet.
The actual act of selling your property, after all of the sweat and
tears, can be quite simple. For just a few hundred dollars you
can cast your net over potential buyers across the state, sell your
property quickly and easily and save thousands in the process.
Market your property smart and cheap, and you will not regret the
effort.
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